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11. Inactivity fees. 💵 Typical cost: $5 per month. If you don't use your bank account for six to 12 months, your bank might start charging you an inactivity fee — sometimes called a dormancy fee.
Sign in to your mailbox at least once every 12 months to keep it active. Content deleted from an inactive mailbox can't be restored. To preserve your mailbox: • Subscribe to Extended AOL Mail - Rest easy knowing that all your emails, along with the files and photos attached to them, will not be purged from your email account due to inactivity*.
1-month salary for employees with seniority of less than 2 years (with given employer); 2-months salary for employees with seniority of 2 – 8 year (with given employer); 3-months salary for employees with seniority of more than 8 years (with given employer). Maximum severance is limited with a 15 x statutory minimum salary. [36]
An automatic renewal clause is used in the insurance and healthcare industries . An automatic renewal clause (also referred to as an evergreen clause), is activated towards the end of the contractual period whereby it automatically renews the terms of an agreement except when the contract is terminated (through mutual agreement or contract breach), or one of the contracting parties has sent a ...
For example, if a company receives an annual software license fee upfront on January 1 but its fiscal year ends on May 31, the company using accrual accounting would only recognize five months' worth (5/12) of the fee as revenue in the current fiscal year's profit and loss statement.
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If a notice period such as one month is required for an employer to terminate a contract, a 'payment in lieu of notice' is immediate compensation at an amount equal to that an employee would have earned as salary or wages by working through the whole notice period: for example, one month's salary.